Falling into two broad areas, retirement planning will help you accumulate wealth prior to retirement, and on retirement turn your pension fund into pension income.
Firstly, as Independent Financial Advisers, Kirk Rice are able to advise on the full range of Pension Products available; from Stakeholder Pensions, Personal Pensions right through to Self Invested Personal Pensions (SIPPS). Additionally, we are able to advise on Company Pension Schemes including Final Salary and Pension Transfers. This enables us to conduct a detailed review of your current provision with the aim of maximising the potential of what you have already and then building upon it. Retirement Planning is not just about Pensions, it can and should include other Non Pension Investments such as Individual Savings Accounts (ISA’S), Unit Trusts, Buy To Let Property etc.
Secondly, Retirement Planning comes in to affect when you actually decide to retire although the preparation should start about 6 months prior. What product or products do you use to turn your Pension Fund in to a Pension Income; will it be an Annuity, Impaired Annuity, With Profits Annuity, Phased Pension or Unsecured Pension? All are products that we can advise on and arrange. Product selection will be determined by a number of factors such as whether it is important to include provision for a spouse or a dependent and/or the ability to pass on your pension fund to your children or grandchildren upon death.
For more information regarding our Retirement Planning services please Contact us or telephone our Financial Services team on 01344 875000.
Kirk Rice LLP is authorised and regulated by the Financial Services Authority (www.fsa.gov.uk/register/home.do). FSA Registration No: 531538